Vedanta Resources, which has the single-largest investment in Odisha at Rs 80,000 crore, announced on Wednesday that it intends to invest an additional Rs 25,000 crore in the state’s mining, ferrochrome, and aluminium industries. According to a firm statement, with this amount of investment, its operations (direct and indirect) are adding close to 4% to the state of Odisha’s GDP.
Details on Vedanta will boost its investment in Odisha by Rs 25,000 crore
Alongside the “Make in Odisha – 2022” roadshow, Odisha Chief Minister Naveen Patnaik met with Vedanta Resources Chairman Anil Agarwal in Mumbai. The statement quoted Agarwal as saying that the company had supported hundreds of MSMEs in the state and produced over five lakh new livelihood prospects.
We (Vedanta) offer evidence to what is achievable if you make in Odisha, he reportedly said. It is one of the best places in India to invest thanks to Shri. Naveen Patnaik Ji’s capable leadership, stable governance, and vision are reflected in the state’s Ease of Doing Business rankings. According to him, the corporation has made “new investments of more than Rs 25,000 crore in line with the expansion of its mining, ferrochrome, and aluminium operations, which would provide employment opportunities and generate revenue for the state.”
To strengthen the domestic downstream ecosystem for aluminium, we are also building one of the biggest aluminium parks in the country close to our Jharsuguda smelter, said Agarwal, who also noted that Odisha’s rich culture, skilled workforce, and natural resource sector have all significantly increased the country’s GDP.